Tag Archives: Jason Valentine

In April, First Nations worked with Gallup Central High School financial literacy teacher Arnold Blum and First Financial Credit Union’s Dale Dedrick to provide the $pending Frenzy financial simulation. The goal was to help GRADS students (Graduation, Reality and Dual-Role Skills program) and other Gallup Central students put principles they learned throughout the year into practice. First Nations provided a series of four simulations for all students at Gallup Central (about 100).

The $pending Frenzy simulation allowed students to practice handling a one-year salary of $30,000 to make spending decisions at a series of booths for big purchases like a car and a home (or rental). In addition, students considered smaller purchases such as a food plan and home furnishings. Students also had the opportunity to save money and/or invest money at a bank booth, were instructed to pay taxes on their salary at a tax booth, and were dealt “chance” cards with unexpected life events that either cost them or resulted in money (such as the birth of a child, breaking a leg in an accident, or receiving an award for a piece of art).

Thanks to the coordination of Blum and Dedrick, the various booths were run by local merchants who represented the purchases students had to make. For example, Realtor Jason Valentine from Coldwell Banker ran the home-buying booth, Teri Garcia from Amigo Chevrolet operated the automobile sales booth, Castle Furniture owner Jimmy Villanueva sold items at the shopping mall booth, and representatives from the local First Financial Credit Union managed the bank booth. Additionally, several local officers of the Bureau of Indian Affairs’ Office of the Special Trustee for American Indians, and representatives from Native Community Finance (a local Native Community Development Financial Institution), Lowe’s Shop’n Save, and Little Singer Community School assisted with a variety of other booths.

Volunteers at the $pending Frenzy

“This year’s $pending Frenzy was a genuine community event for our school with local business volunteers from a variety of industries,” stated Gallup Central Financial Literacy teacher Arnold Blum. “The vendors gave students genuine pitches for up-selling, allowing our kids to practice negotiating. The business leaders debriefed the students afterwards and taught them financial lessons.”

First Nations financial education consultant Shawn Spruce agreed: “Teaming up with communities to create positive energy is what the $pending Frenzy is all about. It was great to see so much support from local businesses and organizations all focused on financially empowering students.”

Surveys collected from students following the $pending Frenzy demonstrated that the students found the simulations to be very useful. Of all who completed a survey, 97% agreed that the $pending Frenzy was a valuable experience and 85% indicated that they would use the information they learned to assist them in managing money. Senior Shay Billie concurred and noted, “I thought the $pending Frenzy was cool because I learned skills I can use to get ahead in life.”

This initiative was made possible through generous funding from the W.K. Kellogg Foundation. For more information about the program please contact Benjamin Marks, First Nations Senior Research Officer, at bmarks@firstnations.org or (540) 371-5615.

The Crazy Cash City event was held in the school’s gym and consisted of two 90-minute reality fairs in which the students had to navigate a series of simulated financial tasks designed to teach basic budgeting and banking skills. It was all in fun — since they were spending play money and not really buying things — but it was also informative and highly interactive.

All participants were given a folder containing a fictitious family profile that listed what their income was, the income of a spouse, the age of any children, and any outstanding debt or benefits they received. The high school kids then visited about 10 booths that provided various choices for housing, transportation, child care and more, and were asked to make smart financial decisions based on their family profile. At the conclusion of the seminar, the students were expected to have a fully balanced budget that they logged in their check register and budgeting sheet.

Students who filled out an evaluation form for the event expressed their support for the workshop and stated that the Crazy Cash City money simulation was a valuable experience. Most importantly, all agreed that the simulation helped them learn to manage their money and that they could now successfully make and use a monthly budget. Some students had such an enjoyable time during the first simulation that they participated again in the second event. Many of the students who repeated adjusted their approach from the lessons they learned during the first go-around and even served as mentors to first-timers when they needed help.

The purpose of the event was to give the youth the opportunity to practice good spending and budgeting habits prior to entering the “real world” after graduation. The idea was to promote smart and informed decisions that will last a lifetime. When asked what was the most challenging part about managing monthly expenses for her fictitious family, one student responded, “Keeping up with my bills, and putting food on the table and caring for my one-month old baby. Also, keeping (the baby) in good hands when I leave.”

Liz Sanchez from My Closet (right) sells to a student

“This event really brings together community partners and it is always great to work with the leadership at Gallup Central High School and First Financial Credit Union,” Shawn said. “We are happy that we found an exciting way to teach youth practical budgeting and banking skills that they can soon apply in the real world.”